National Credit Union Administration

(Newser) - JPMorgan is staring down a lawsuit over Bear Stearns' alleged mortgage-backed securities misconduct. The National Credit Union Administration, the federal regulator that oversees credit unions, has sued the big bank, alleging that Bear Stearns misled the credit unions it sold $3.6 billion in securities to, causing many to collapse,...

(Newser) - Federal regulators have taken control of two major wholesale credit unions, which provide services to thousands of credit unions nationwide, to stabilize the industry, Bloomberg reports. The institutions, which have combined assets of $57 billion, failed the so-called stress test, showing an unacceptably high level of risk from mortgage-backed securities....

(Newser) - Federal regulators yesterday expanded their bailout of the financial sector, injecting $1 billion into one of several nonprofit companies that services credit unions nationwide and offering a guarantee of up to $80 billion for uninsured deposits at the “wholesale” credit unions, reports the Wall Street Journal. Regulators acted after...